Bernie Madoff, man behind largest Ponzi scheme in history, reportedly dies in prison Former financier Bernie Madoff exits federal court in Manhattan, in New York. Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press. Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorised to speak publicly and spoke to the AP on the condition of anonymity. Last year, Madoff's lawyers filed court papers to try to get the 82-year-old released from prison in the COVID-19 pandemic, saying he had suffered from end-stage renal disease and other chronic medical conditions. The request was denied.